Benzinga | Oct 21, 2021 12:10PM EDT

Protolabs Expands Additive Manufacturing Footprint

* Proto Labs Inc (NYSE:PRLB) signed an occupancy agreement to expand its additive manufacturing footprint in the Raleigh, N.C., area due to growing demand for its 3D printing services.

* Breaking ground later this month, the second location adds 120,000 sq. ft. of manufacturing capacity to its current facility near Morrisville, N.C.

* Protolabs worked with Capital Associates, a Raleigh-based real estate company, to facilitate the development of the manufacturing facility.

* Capital Associates will be the property owner, and Protolabs expects to occupy the location by late 2022.

* Price Action: PRLB shares are trading lower by 1.71% at $72.00 on the last check Wednesday.